NextEra Energy Resources, a subsidiary of FPL Group Inc., has launched its EarthEra Renewable Energy Trust and associated renewable energy products to help businesses offset the energy impact of their operations or to meet other sustainability goals.
A group of businesses and institutions has already committed more than $5 million to the trust by purchasing EarthEra products to offset the carbon impact of their business operations and to meet their green energy requirements. Participants include Sony Electronics Inc., Office Depot, HSBC-North America, REI, Norwegian Cruise Lines, GOOD, University of Denver and Loyola Marymount University.
When businesses purchase EarthEra renewable energy certificates (RECs), 100 percent of the revenue will be used to build new wind and solar facilities, according to the wind and solar energy producer.
The EarthEra Renewable Energy Trust is administered by U.S. Bank and all marketing, administrative and other overhead expenses are paid by NextEra Energy Resources, based in Juno Beach, Florida. All renewable energy projects built by the proceeds from the Trust will be owned and managed by NextEra or its subsidiaries.
Companies can bundle RECs with energy hedges to even out their power expenditures.
Consumers can also help in the fight against climate change by reducing their carbon footprint at home, said NextEra. The EarthEra.com website provides a carbon calculator for consumers to help them reduce their carbon footprint and to join the EarthEra community.
For additional information about the REC market, check out Point Carbon’s report, Carbon market Analyst North America.